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US automobile giant invest $1.5 billion in St. Louis, Missouri plant

General Motors plant

General Motors, an American automobile giant, on Friday, announced it would invest $1.5 billion into building its new pickup vehicles at its St. Louis, Missouri plant.

The automaker currently produces its Chevrolet Colorado and GMC Canyon at St. Louis plant and the money would go into upgrading its Wentzville Assembly and Stamping Plant.

The new investment would help to retain over 4,000 jobs at the current facility. The automaker has around 4,300 jobs and there would not be any job cuts, according to the officials at General Motors.

A company spokesperson stated that over $1 billion would be used to upgrade the plant and the rest of the funds would be used for new machinery.   

The announcement comes right after the automaker announced it plans to shut down plants in Maryland and Ohio. 

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Ralph Jennings

Ralph has been writing articles since the age of 16. He is an expert when it comes to financing and stock market-related articles. He also covers articles related to economic trends for the publication. He is not only an author for FinanceDe but also the Co-Founder of the publication. He writes articles that cover the in-depth facts and figures of the articles. He loves watching football during his free and plays with his kids during the weekends.




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